Re Agreement

Total Fina Elf.
6 January 2003


      Canada: TotalFinaElf acquires 43.5% of the Surmont exploration permit 
                    (oil sands bitumen) in Athabasca (Alberta)


Paris, January 6, 2003 - TotalFinaElf announces that the company has signed an
agreement to acquire a 43.5% stake in the Surmont exploration permit in
Athabasca, in the Canadian province of Alberta. Surmont is made up of four
adjacent licenses covering a total area of 548 km2.

This permit is part of an ongoing heavy oil sands thermal extraction pilot
project since 1998 (Steam Assisted Gravity Drainage). TotalFinaElf is partnered
with ConocoPhillips (operator with 43.5%) and Devon (13%).

In 2003 the consortium will continue to undertake works as outlined in the
permit in vue of a first phase of development currently under study.

'We will place at the disposal of the consortium in charge of developing Surmont
our expertise as concerns heavy oils acquired notably in Venezuela where we
operate the Sincor project within the Orinoco belt',  explains Christophe de
Margerie, President Exploration and Production. 'We believe that TotalFinaElf is
well positioned as concerns the development of non conventional reserves whether
it be in ultra-deep offshore Angola or in the North Sea with high temperatures
and pressures'. 



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